Presidential committee investigating arms purchase has uncovered a whopping N2.175 billion fraud in one of the agencies of the Ministry of Defence.
The diverted fund was part of the N35 billion the ministry took as loan from the Debt Management Office to purchase equipment for troops on international peace-keeping mission with the aim of getting reimbursements from the United Nations.
The committee said the money meant for the project was paid in installments to some corporate bodies and Bureaux De Change.
Meanwhile, the presidential committee investigating arms purchase might not meet the November 30 deadline to submit its report. Report said the committee is faced with challenged including been barred from requesting for documents and other materials from the agencies under probe.
The committee was accused of being biased and indicted those perceived to be enemies of the present administration as culprits in the illegal purchase of arms and ammunition for the military.
Although the committee has begun probing arms procurement for the Navy, but there was anxiety that the committee may not do a thorough job as was done for the Army, Air Force and the Defence Ministry.